Update: Contemplating issuing Tier 1 and Tier 2 capital

Mon, Mar 20, 2017 09:14 CET

Reference is made to the stock exchange notice dated 17 March 2017 regarding the potential issuance of a new Tier 1 perpetual bond and a new Tier 2 bond.

SpareBank 1 Nord-Norge (the Bank) may utilize part of the bond proceeds under the New Bond Issues to purchase, in part or in whole, the bonds issued under NONG67 (ISIN: NO0010665334) at 101,35 with settlement 4 April 2017, and in part or up to NOK 350 million of the bonds issued under NONG66 (ISIN: NO0010665342) at 102,00 with settlement 4 April 2017 (jointly referred to as the “Existing Bond Issues”). The purchase of such bonds is subject to the contemplated issuance of a new Tier 1 perpetual bond of up to NOK 350 million and a new Tier 2 bond of up to NOK 500 million (jointly referred to as the "New Bond Issues") and the amount utilised to purchase bonds issued under the relevant Existing Bond Issue may not exceed the corresponding amount issued under the New Bond Issues.

About Us

SpareBank 1 Nord-Norge is a leading provider of financial products and services in North-Norway.
In addition to loans, deposits and payment transmission services, this also comprises most other savings products, as well as life- and non-life insurance products.
Services and products are made available either by the bank and its subsidiaries, or through SpareBank 1 Gruppen AS's product companies.